Business

Check processing companies

11 Popular QuestionsAbout eChecks

An eCheck (electronic check) is a form of online payment allowing the money to electronically be withdrawn from the payer’s checking account, transferred over the ACH network, and deposited into the payee’s checking account.

Businesses with an ACH merchant account can withdraw payments for goods/services directly from their customer’s bank account.The recipient should receive the money within 3-6 business days.

How Does eCheck Processing Work?

Electronic check processing can be compared to paper check processing, only it’s faster. The process happens electronically and requires the following main steps:

  • Request authorization
  • Payment setup
  • Finalize and aubmit
  • Payment confirmation and funds deposite

How to Get Started with eChecks?

To implement eCheck conversion quickly and easily, you should:

  • Apply to reputable check processing companies that’ll make it easy to align your current business processes with your new electronic processing system, export customer data, and integrate your new system with your business management software
  • Inform your customers that you’ll begin using electronic check conversion

Are ACH and EFT the Same Thing as eCheck?

EFT is Electronic Funds Transfer, which includes many types of financial transfers:

  • Wire transfers
  • Direct deposits
  • Electronic benefits payments
  • ACH disbursements, and more

ACH is Automated Clearing House, the electronic network used by US financial institutions. It provides the infrastructure used by payment processing companies.

An eCheck is a type of electronic funds transfer (EFT) that uses the Automated Clearing House (ACH) network for payment processing.

What Types of Payments Can eChecks Be Used for?

eCheck payments are popular for high-cost items like rent, mortgage or car payments, and high-cost monthly fees like legal retainers and fitness memberships.

Can eChecksBe Used for Recurring Payments?

eChecks are among the most popular types of recurring payment.

How Long Do eCheckClearing and Processing Take?

The eCheck clearing process depends on the provider. As a rule, funds are verified within 24 – 48 hours of the transaction being initiated.

How to Send an eCheck Payment?

The person to whom you’re sending the payment should have an ACH merchant account. These are the ways you can use to send an eCheck payment:

  • You get an online payment form from the payee, fill in your checking account number and routing number, as well as the amount of payment
  • The payee can ask for your checking account and routing numbers by making a call on a recorded phone line

How Much Does eCheck processing Cost?

eCheck processing fees depend on the provider of eCheck merchant accounts. The average fee is $0.30 – $1.50 per eCheck transaction.

How to Get an eCheck Merchant Account?

Signing up for an eCheck or ACH merchant account is similar to getting a credit card merchant account.You’ll be required to provide the following information:

  • Federal Tax ID
  • Years in business
  • Estimated processing volumes

What Are the Benefits of eChecks?

Electronic checks offer the following benefits:

  • eChecks help you save time and reduce hassle for your staff
  • Reduce processing costs by up to 60%
  • Receive funds sooner
  • Increase sales
  • Work smarter and greener
  • Decrease errors and fraud

Are cChecks Secure?

Electronic checks protect your business and your customers. eCheck conversion is among the most secure payment methods in the electronic payment processing industry because it uses the latest information protection features:

  • Authentication
  • Duplicate detection
  • Encryption

To get the best payment processing solutions for your business, take the time to research the industry well and find the right processor to turn to.

Author Bio: Electronic payments expert, Blair Thomas, co-founded eMerchantBroker in 2011. His passions include writing/producing music, and travel. eMerchantBroker is America’s No. 1 check processing company, serving both traditional and high-risk merchants.

Tips to Help You Stretch Your Backpacking Dollar

Backpacking. When it comes to seeing the world, it definitely brings a multitude of experiences and adventures with you simply wouldn’t experience or encounter through other, more modern methods of exploring the globe.

 

If you would love nothing more than to see the world, but don’t think that your budget will allow you to see much more than your own state, below are some great tips to help you finance your backpacking adventure.

 

No More Uber

There is no denying the convenience of ordering an Uber in your home country, let alone doing it in a country where you don’t speak the language and so don’t have to speak with anyone. However, this convenience also comes at a cost. Literally, a monetary cost, and it’s often proportionally higher than those when getting on public transport.

 

When visiting a foreign country, resist the urge to wipe out your phone and order a ride-hailing service, and instead get on public transport. Whether it’s a train, two busses, or a train and a trolley, don’t be afraid to travel like a local. Not only will you gain a world of experiences, but it will also save you a significant portion of your travel allowances

 

Don’t Eat Your Money

Next, on the most expensive travel related items list, is food. Food is a tricky one because once you have tried bad foreign food, you’re hesitant to try again, leaving you with just the familiar options that you can see back home.

 

And while these may be comforting for your stomach and your brain, they are also expensive. Much more expensive. Instead, strike a balance between the two. For example, instead of eating street food, look for a vendor who has a small store where people are lined up outside. This is often the sign of a cheap place with tasty and high-quality food and ingredients.

 

Don’t Pay Retail for Flights and Accom

The worst thing that you can do is exhaust your travel budget before you have even had a chance to get on the plane! When you are booking all of your flights and connections, stick to sites like the Groupon Coupons page for Hotwire to find great discounts and bundle deals which you can take advantage of. Methods like this can save your serious cash on not only flights but also your accommodation.

 

Swap Tour Guides for Friends

If you are visiting a country which does not receive a lot of tourism then you can expect that everybody will want to speak with you and meet you. It’s also likely that some of them will speak a little bit of your language. With this in mind, split your exploring time and budget between organized tours and visiting areas with friendly locals who are more than willing and happy to introduce you to their culture and history

 

These tips are great ways to help you keep your travel costs down, so instead of sitting at your desk thinking about the world outside, take these tips into mind, get off the seat, and see the world!

Financial advisors and portfolio rebalancing software: what to look for

Any portfolio of assets needs careful management. Much like a car left undriven in the garage, an asset portfolio that is not reappraised and rebalanced at regular intervals is unlikely to perform as strongly as desirable. This financial recklessness can end up costing the portfolio holder dear.

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Fortunately, financial advisors and their clients can benefit from well-designed financial advisor software that is eminently fit for purpose; however, finding the right financial advisor can be tricky. Recognising the problem, the Financial Conduct Authority has produced a helpful guide to assist consumers.

What is portfolio rebalancing software?

Portfolio rebalancing software replaces the laborious by-hand or excel spreadsheet methods of assisting a portfolio holder, or their financial advisor, with the periodic buying and selling of assets to ensure that the overall distribution of asset allocation accords, more or less, with the wishes of the portfolio holder. Sometimes the holder wishes to maintain the allocation they had when they set up the portfolio, such as 75 per cent shares and 25 per cent bonds; however, in certain circumstances, which may be to do with stock market performance or specific individual needs, the portfolio may need rebalancing to better express the changed situation. As a rule, it is far better to undertake rebalancing exercises in response to fluctuations in the market than it is to do so as a matter of course at the end of the financial year.

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What to look for in portfolio rebalancing software

Financial advisors have woken up to the fact that portfolio rebalancing software is in demand by their clients; however, there are a variety of options on the market and determining the best one for a firm’s clients is not always easy. The most professional providers, such as https://www.intelliflo.com/financial-adviser-software, will always be happy to discuss the range of options to ensure the best fit.

When choosing the right software, much depends upon the client base. Entry-level software offers a more broad-brush approach, enabling balancing at a client or account level. More advanced solutions can do the same job in greater detail at household level. Each type should also contain functions that take into account a client’s tolerance for risk and allow effective tax planning. The most impressive portfolio rebalancing software is capable of rebalancing thousands of portfolios in minutes.

How to Form Wyoming LLC – A Simple, Straightforward Guide

The principle of Wyoming corporations is the Restrained Liability Company (LLC). Wyoming was the very first state to authorize LLCs in 1977. The goal was to offer an entity that possessed the fiscal advantages of a corporation and the benefits of a limited liability Company. This legal company type, now obtainable also in Delaware and in a few other states, offers fiscal and limited legal responsibility advantages, as well as flexibility relating to its members.

The LLC were created for entrepreneurial firms with a small number of clients. All members could advantage from the protection of the limited responsibility so long as they be concerned in the business. The LLC is likewise useful for persons engaged in family firms who need to keep the control within family, to purchase the protection of a small accountability, the fiscal advantages of a small company, and to prohibit the transfer of voting rights beyond your family.

LLCs of Wyoming non-residents have the following Wyoming Corporation Requirements:

  • Limited Liability of all shareholders
  • Without tax limitation within the United States
  • If they’re managed and structured in a jurisdiction, they may enjoy fiscal advantages
  • There’s no requirement to submit annual accounts
  • Non-resident foreigners will be members

 

Wyoming Corporation Requirements to Start Your LLC

Step 1

Select a name for your Wyoming LLC. Wyoming law requires the name of many LLC’s to include both the names “limited legal liability” or the abbreviation “LC”, “L.C.”, “LLC” or “L.L.C. & rdquo ;.You could abbreviate “limited” as “Ltd.” and “organization” as “co.&rdquo ;.The name of your Wyoming LLC must be distinguishable from the name of any business registered with the Wyoming Secretary of State. The Wyoming Secretary of State keeps an online database of registered Wyoming companies, which you need to use of to find a special name for your business.

Step 2

Choose registered agent for the Wyoming LLC. Wyoming regulation requires all companies to steadfastly have up a registered agent. A registered agent is the person or business that, if your agency is ever subpoenaed or sued, will take care of the process. In case you must be a Wyoming resident, you may serve as the registered agent of one’s corporation. If you’re not actually a Wyoming resident, or don’t want to affiliate your name and home address with your business in a public record, you can choose to hire a registered agent service, that might get service of process for the enterprise.

Step 3

Down load the Articles of cooperation form from the Wyoming Secretary of State’s internet site. According to Wyoming Corporation Requirements, you need to use the Wyoming Secretary of State’s Articles of registration kind to register an LLC.

Step 4

Fill in the Articles of corporation. Provide the name, address and office address of your company. Give you the name and address of the registered agent. Signal and date the Articles of registration. Offer your name, address, telephone number and e-mail.

Step 5

Let your registered agent execute Consent to Appointment form. The Consent to Appointment form is also attached on the Articles of company form. Your registered agent ought to provide his name and tackle and signal the form.